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The sum appearing in that Bond shall not be less than ten percent of the Contract Sum. The Contractor shall pay all fees, premiums and stamp duty in connection with the bond. The Tenderer is to submit with his tender an undertaking from their proposed surety that they will execute a bond in this form not later than 7 days after being requested to do so by the Employer. The Employer reserves the right to reject the surety proposed by the Contractor and will have no requirement to provide reasons to the Contractor for so doing. 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